Ichor Q1 2022 Earnings Report
Key Takeaways
Ichor Holdings reported record first-quarter revenues of $293 million, which were within their guidance range, representing an 11% year-over-year increase. However, the gross margin was affected by increased hiring for direct manufacturing labor and higher freight and logistics costs. The company anticipates sequential revenue increases throughout 2022, despite supply chain challenges.
Record revenues were $293 million, up 11% year-over-year and up 2% from Q4.
GAAP gross margin was 15%, and non-GAAP gross margin was 16%.
GAAP earnings per share was $0.28, and non-GAAP earnings per share was $0.70.
Increased hiring and manufacturing capacity to address strong customer demand.
Ichor
Ichor
Forward Guidance
For the second quarter of 2022, Ichor expects revenue to be in the range of $290 million to $330 million. GAAP diluted EPS is expected to be in the range of $0.45 to $0.73 and non-GAAP diluted EPS is expected to be in the range of $0.68 to $0.94.
Positive Outlook
- Revenue expected to be in the range of $290 million to $330 million.
- GAAP diluted EPS expected to be in the range of $0.45 to $0.73.
- Non-GAAP diluted EPS expected to be in the range of $0.68 to $0.94.